Piccadily Agro Q3 FY26: Revenue up 52.5% YoY

What’s driving attention on Piccadily Agro

Piccadily Agro Industries Limited has been in focus after reporting strong top-line growth in Q3 FY26, supported by its premium alco-bev portfolio. The company’s Indri single malt, produced in Haryana, is also highlighted in the shared material as India’s largest-selling single malt. Financial updates in the dataset include quarterly sales snapshots for the December 2025 and September 2025 quarters, along with FY25 annual metrics. The stock price is listed at ₹651.10 as on 28 April 2026, with past one-week returns noted at 13.01%.

Q3 FY26 results: the company’s stated headline numbers

In the Q3 FY26 update dated 21 January 2026, revenue from operations was reported at ₹313.80 crore, up 52.5% year-on-year from ₹205.72 crore in Q3 FY25. EBITDA was stated at ₹79.70 crore versus ₹50.87 crore, a 56.7% YoY increase. Profit before tax (PBT) was reported at ₹68.03 crore, up 85.3% YoY, while profit after tax (PAT) was reported at ₹48.14 crore, up 92.2% YoY. Net profit margin was reported to have improved from 12.18% to 15.3%, and EPS was stated at ₹4.89, up 83.8% YoY.

The same note also mentions sequential momentum, stating Q3 FY26 revenue rose 34.9% over Q2 FY26 and PAT increased 80.9% quarter-on-quarter. The distillery segment was described as the key driver, contributing ₹284.97 crore, or 91% of total revenue, with 54.9% YoY growth.

A separate consolidated summary flags losses despite higher revenue

Alongside the above, another “Q3 FY26 Results Summary” in the provided data set reports revenue from operations at ₹313.80 crore for Q3 FY26, with YoY growth shown as +49.7% (Q3 FY25: ₹209.76 crore) and QoQ growth of +34.9% (Q2 FY26: ₹232.70 crore). However, that summary also shows a consolidated net loss of -₹42.83 crore in Q3 FY26 versus -₹33.15 crore a year earlier and -₹31.08 crore in Q2 FY26. It further lists EPS at -₹8.92 for Q3 FY26.

Because the shared material contains both a profit-led Q3 FY26 snapshot and a loss-led consolidated snapshot for the same quarter, readers should treat the profitability picture as inconsistent within the supplied sources and rely on the company’s filed financial statements for final confirmation.

December 2025 and September 2025 sales: reported snapshots

The dataset includes sales updates stating consolidated net sales for December 2025 at ₹276.32 crore, up 51.59% year-on-year. It also lists consolidated September 2025 net sales at ₹212.21 crore, up 14.76% YoY.

Separately, an earnings line item in the material states consolidated net profit rose 92.53% to ₹47.69 crore in the quarter ended December 2025, compared with ₹24.77 crore in the quarter ended December 2024. For the quarter ended September 2025, net profit is stated to have risen 8.44% to ₹26.72 crore, while sales rose 14.82% to ₹210.62 crore.

Q2 FY26 performance: growth with mixed reporting lines

For Q2 FY26, one section states revenue of ₹232.7 crore, up 16.0% YoY from ₹200.5 crore, with EBITDA at ₹48.42 crore (up 11% YoY). It also states PBT at ₹35.66 crore (up 7.9% YoY), PAT at ₹26.61 crore (up 6.7% YoY), and EPS at ₹2.77 (up 4.9% YoY). Another table-based snapshot for Q2 FY26 lists total income of ₹213.81 crore and PAT of ₹26.72 crore.

The company’s CFO, Natwar Aggarwal, is quoted in the shared content as attributing performance to premium portfolio traction, operational efficiency, and cost management.

FY25 annual financial metrics in the shared data

The FY25 metrics included in the dataset list operating revenue of ₹818.13 crore, EBITDA of ₹189.52 crore, PBT of ₹142.2 crore, and PAT of ₹102.7 crore (with a note about adjustment for discontinuing operations and extraordinary items). Balance sheet figures shown include net worth of ₹680.09 crore, total assets of ₹1,144 crore, and total outside liabilities of ₹464.29 crore. Cash flow figures presented are cash from operating activity at -₹27.07 crore, cash from investing activity at -₹269.55 crore, and cash from financing activity at ₹291.75 crore.

Market and stock context provided

As per the supplied text, Piccadily Agro’s share price is ₹651.10 as on 28 April 2026. The same dataset lists past one-week returns at 13.01%. It also states that over the last five years, revenue grew at a yearly rate of 15.59% versus an industry average of 6.1%, and market share increased from 0.62% to 0.91%. Net income growth over five years is listed at 39.87% per year versus an industry average of -10.86%.

Key numbers at a glance

Earnings dates: inconsistent signals in the dataset

The header of the supplied material mentions earnings “expected on 28/04/2026.” Elsewhere, it states an “upcoming earnings date” of 7 November 2025. These two entries do not align within the dataset, so investors should verify the correct corporate action schedule on the exchange calendar and the company’s official filings.

Why this update matters for investors

The data points point to rapid scaling in Piccadily Agro’s distillery-led revenue base, with premiumization positioned as a key theme. At the same time, the coexistence of a profit-led Q3 FY26 narrative and a separate consolidated loss-led summary highlights how interpretation can change depending on consolidation scope and reporting source. For shareholders, that makes it important to track segment-level performance, cost movement, and the exact consolidated profit line in statutory results.

Conclusion

Piccadily Agro’s reported Q3 FY26 revenue growth and distillery contribution stand out in the supplied material, alongside strong quarterly sales growth in the December 2025 period. However, conflicting consolidated profitability figures in the same dataset mean the next verified filing and exchange disclosure will be the key reference point for clarity.